| ASX ANNOUNCEMENT | 9 June 2016 |
Melbourne, Australia; 9 June 2016: Australian stem cell and regenerative medicine company, Cynata Therapeutics Limited (ASX: CYP), announced that highly regarded and experienced biopharmaceutical industry executive, Dr Paul K Wotton, has joined the Cynata Board of Directors.
Dr Wotton has an outstanding track record of leading companies to clinical, financial and commercial success, most recently demonstrated in his stewardship of Ocata Therapeutics, Inc, a US-based stem cell therapy company, culminating in the recent acquisition of that company by Astellas Pharma, Inc., in a US$379 million all cash transaction.
Dr Wotton has more than 30 years' experience in the pharmaceuticals and biotech industry. He served as CEO and President of Ocata Therapeutics from July 2014 until the completion of the Astellas acquisition in February of 2016. Prior to that he served for 6 years as CEO and President of Antares Pharma, Inc., a Nasdaq-listed specialty pharmaceutical company. Before leading Antares Pharma he held various senior executive roles in large- and mid-cap pharma and biotech companies in the USA and Europe. He is a member of the board of Vericel Corporation, a US company developing autologous cellular therapies. Dr Wotton is a pharmacist by training with both a Ph.D. from the University of Nottingham and an MBA from Kingston Business School in the U.K. In 2014 he was named New Jersey EY Entrepreneur of the Year in Life Sciences.
"Cynata's unique and proprietary mesenchymal stem cell (MSC) manufacturing technology, Cymerus™, represents a revolutionary breakthrough in the commercial progress of MSC-based therapeutics," said Dr Wotton. "Cymerus addresses a clear industry need for a new generation MSC manufacturing process that can cost-efficiently produce commercial quantities of premium clinical grade MSCs. I am delighted to join Cynata at this very exciting time for the company and for regenerative medicine in general where cell therapy technology is now making important advances."
Dr Stewart Washer, Cynata's Executive Chairman, welcomed Dr Wotton's decision to join the Board and noted "Paul's direct experience in driving commercial transactions and broad exposure to the stem cell and regenerative medicine sector is particularly pertinent to Cynata's business model and ongoing partnership discussions. We look forward to his guidance and to working with Paul as Cynata continues to execute its business strategy."
| CONTACTS: | Dr Ross Macdonald, CEO: Tel: 0412 119343; email ross.macdonald@cynata.com |
| Dr Stewart Washer, Executive Chairman: Tel: 0418 288212; email stewart.washer@cynata.com | |
| Kirin Smith, Chief Operations Officer, Investor Contact, + 1 646-863-6519, ksmith@pcgadvisory.com | |
| Sean Leous, Chief Communications Officer, Media Contact, +1 646-863-8998, sleous@pcgadvisory.com | |
| Rudi Michelson, Monsoon, Australia Media Contact, 0411 402 737, rudim@monsoon.com.au |
About Cynata Therapeutics (ASX: CYP)
Cynata Therapeutics Limited (ASX: CYP) is an Australian stem cell and regenerative medicine company that is developing a therapeutic stem cell platform technology, Cymerus™, originating from the University of Wisconsin-Madison, a world leader in stem cell research. The proprietary Cymerus™ technology addresses a critical shortcoming in existing methods of production of mesenchymal stem cells (MSCs) for therapeutic use, which is the ability to achieve economic manufacture at commercial scale. Cymerus™ utilises induced pluripotent stem cells (iPSCs) to produce a particular type of MSC precursor, called a mesenchymoangioblast (MCA). The Cymerus™ platform provides a source of MSCs that is independent of donor limitations and provides an "off-the-shelf" stem cell platform for therapeutic product use, with a pharmaceutical product business model and economies of scale. This has the potential to create a new standard in the emergent arena of stem cell therapeutics and provides both a unique differentiator and an important competitive position.
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